May 16, 2017 3:12 pm
Just wondering if anyone has successfully obtained a split loan whereby there had been 2 people on a title? Are there any lenders who will be willing to do the split in two loans and we not have liability on each others loan?
So we dont want the loan in both names nor want to garantee each others loan. they need to be completely stand alone under the one title?
Re: SPLIT LOANS2
May 16, 2017 4:20 pm
Unfortunately no lender out there will allow that. Basically anyone on title needs to be on the loan in some fashion, whether as borrower or guarantor.
I don't know if it helps, but there is one lender out there with a specific product who will allow each person to be responsible for their own separate loan under the same security where they can have a different loan amount, product, term, etc and the other person cannot see the account.
However they still need to provide security guarantees to each other's loan, and it isn't available on construction loans.
Phoenix Loan Consulting
www.phoenixloans.com.au | Ph: 0409 799 372
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